Sprint, T-Mobile US shares jump premarket on report companies are close to merger terms

Shares of Sprint Corp.
S, +1.55%
and T-Mobile US Inc.
TMUS, -0.05%
jumped in premarket trade Friday, after Reuters said the companies are close to agreeing tentative terms on a merger, citing people familiar with the matter. Japan's Softbank Group Corp.
9984, -0.91%
Sprint's majority shareholder, will own 40% to 50% of the combined entity, Reuters reported. T-Mobile parent Deutsche Telekom AG
DTE, +1.16%
will own a majority stake. Sprint shares rose 4.4%, while T-Mobile shares were up 1.3%. S&P 500 futures were down 0.2%.

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